- Prison Planet.com - http://www.prisonplanet.com -

Dow Drops Over 200 points

Posted By admin On October 30, 2009 @ 10:33 am In Money Watch | Comments Disabled

Wall Street retreats as investors bail out of bank and energy shares following previous session’s big run

CNN Money [1]
Friday, October 30, 2009

NEW YORK (CNNMoney.com) — Stocks tumbled Friday afternoon, erasing most of the previous session’s big gains. Financials and energy shares were among the hardest hit.

The Dow Jones industrial average (INDU) lost 220 points, or 2.2%, with about three hours left in the session. The Dow had lost as much as 225 points earlier.

The S&P 500 (SPX) index fell 25 points, or 2.4%, and the Nasdaq composite (COMP) shed 44 points, or 2.1%.

(ARTICLE CONTINUES BELOW)

Dow Drops Over 200 points FOTR 340x169 PP [2]

The selloff was broad based, with all 30 Dow components declining and most stock sectors sliding. Energy prices and stocks were hit hard as the dollar turned mixed; the financial sector erased most of the 4% gain it accrued Thursday.

“I think there was a high level of complacency and confidence about the rally ahead of this week and that’s reversed some this week,” said Larry Glazer, managing director at Mayflower Advisors.

Full story here. [1]


Article printed from Prison Planet.com: http://www.prisonplanet.com

URL to article: http://www.prisonplanet.com/dow-drops-over-200-points.html

URLs in this post:

[1] CNN Money: http://money.cnn.com/2009/10/30/markets/markets_newyork/?postversion=2009103013

[2] Image: http://prisonplanet.tv/

[3] Stock market drops 107 points during Bush’s speech on the economy.»: http://www.prisonplanet.com/stock-market-drops-107-points-during-bush%e2%80%99s-speech-on-the-economy%c2%bb.html

[4] Dow Tumbles 200 Points: http://www.prisonplanet.com/dow-tumbles-200-points.html

[5] Wall St extends losses on economic gloom: http://www.prisonplanet.com/wall-st-extends-losses-on-economic-gloom.html

[6] Obama lead on McCain grows to 12 points: http://www.prisonplanet.com/obama-lead-on-mccain-grows-to-12-points.html

[7] West Drops Syria WMD Narrative As Evidence Points to Western-Armed Terrorists: http://www.prisonplanet.com/west-drops-syria-wmd-narrative-as-evidence-points-to-western-armed-terrorists.html

Copyright © 2013 PrisonPlanet.com. All rights reserved.